EcomX incubation program has brought 15 e-commerce businesses to the Azerbaijani economy

The EcomX e-commerce training and incubation program, which was held for the first time in Azerbaijan with the support of the Innovation and Digital Development Agency, concluded with the creation of 15 new e-commerce businesses as a result of three months of intensive training.
The culmination of the program was the Demo Day event held on August 9. At the event, 15 out of 21 projects selected from Baku, Ganja, Sumgayit and Lankaran presented their ideas to investors, mentors and ecosystem representatives. The winners of the competition each won 10,000 AZN and had the opportunity to expand their businesses.
In addition to being held for the first time in Azerbaijan, the EcomX program was developed with the support of trainers and mentors who participated in international programs. According to Orkhan Ahmadov, the project manager of the ecomX incubation program; More than 780 applications were received for the “Introduction to e-commerce” trainings held in February-April, and more than 180 participants were awarded certificates of knowledge on the basics of e-commerce, product selection, digital marketing and platform management. Then, at the ideaton stage organized in May, 21 promising ideas from more than 50 projects were accepted into the incubation program. In May-July, participants received training on product development, legal foundations, financial planning and market strategies at 36 online and 12 live events and succeeded in turning their ideas into real businesses.
EcomX contributed to the development of Azerbaijan’s digital economy, the creation of new jobs and the promotion of entrepreneurship in the regions. The program was organized by BONPARA and implemented with the support of the Innovation and Digital Development Agency, SUPVC, Azerbaijan E-commerce Association, as well as .ini, epoint, brandmaker, cib.business and kargomat companies.
The successful completion of the program once again confirmed the high interest in e-commerce business in Azerbaijan and the high prospects of this field. The organizers noted that the next phase of the ecomX program will be announced soon and will support the creation of new businesses. The 15 new businesses created as a result of the ecomX program will represent the new generation of Azerbaijani entrepreneurs in the local and global markets.